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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better. the ftse 1100, too. fwank stocks mostly taking it on the chin, though. whether we're talking about spain where bbva is down 3.7%, banco santander down 3%. it looks as though declines in the banks are leading this next leg lower. here is a quick look at what's on this week's agenda as we turn our attention to the u.s. the national association of home builders releases its march index today. the pboc meeting starts tuesday with tons of data for thursday including manufacturing index for march, the philly fed survey and is leading economic indicators. with all that to run throu
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to the program. european markets are start to go drift lower again. the ftse mib is down 2%. the dax in germany holding up better....
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spread to italy and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is basically government-owned anyway now. david: what i don't understand, maybe you can explain it to me, erin, why is it, these are international banks. i can understand cypriot banks. that is different situation. some of those might be bought out by the russians anyway. if i have an international bank and an international account in an international bank in cyprus or spain, in international currencies, euros, why can't i move my operation to another country that is not at risk? >> will, i think is exactly what they're worried about. that is why there's a bank holiday cyprus. the banks are expected to reopen on thursday an
spread to italy and spain and most global banks have a lot of exposure to those two countries and their economies are much bigger and more important. david: what about hsbc or barclays? both have a lot of branches in cyprus. >> well, barclays has a lot of exposure to spain which is something i would be worried about. david: okay. >> and hsbc has a global bank has exposure to just about everything. only sew societe generale has exposure to cyprus and national bank of greece. it is...
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economy. i think it's in very good shape here. i just think when you look at markets they are complacent. this was a quad witching last friday. i think people are going to still see a hangover this week. >> let's take a look at our top trades of the week. steven p. grasso, we'll start off with you. >> i didn't trade today. but i was -- >> what? >> i didn't. because i would have got sucked into selling stocks today. so what i did was i'm watching people buy -- rotate out of a google into apple. i'm long apple but i'm also long google. i would have got sucked into selling it. >> when does the rotation happen for you? >> it's not going to happen for me. i would have bought more google but i felt as if i didn't have enough clarity right now. i want to see how the week plays out. >> pilot? >> i look at the energy space and for weeks for months we've been talking about just about every subsector, sector in energy. whether it's refiners. today was integrateds. conoco phillips is one of those names. c.o.p. this is not psx. conoco phillips
economy. i think it's in very good shape here. i just think when you look at markets they are complacent. this was a quad witching last friday. i think people are going to still see a hangover this week. >> let's take a look at our top trades of the week. steven p. grasso, we'll start off with you. >> i didn't trade today. but i was -- >> what? >> i didn't. because i would have got sucked into selling stocks today. so what i did was i'm watching people buy -- rotate out...
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rowe price, we understand the connections of a complex, global economy. 's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: if you are looking for a free checking account these days, chances are, you are probably not going to find it at your local bank, percentage of offering free, no strings attached has dropped, down 26%, will the trend continue, should you consider a credit union instead. mcbride is joining me now with details, you have a lot of great numbers here. so you do the mag, it looks like credit unions offer the better deal. >> they used to run neck-and-neck, but banks, and the availability of free chec checking has dropped. and credit union its has dropped just a hair, more than 70% of largest credit unions still offer a stand alone free checking. gerri: you can get around the bank fees if you have a big enough balance. >>
rowe price, we understand the connections of a complex, global economy. 's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. gerri: if you are looking for a free checking account these days, chances are, you are probably not going to find it at your local bank, percentage of offering...
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Mar 18, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off about 16 points. making headlines this morning, beyond cyprus, airbus is landing a record order of jets from indonesia's lion air. the deal is for $24 billion for 234 planes. also today, president obama is going to be nominating thomas perez to head the labor department. >> we wondered. >> an airplane guy. >> if we were going to pull back, we wondered where it was going to come from. but this doesn't change that we're still -- the dollar has been thrown away, the best house in the neighborhood, things here are still going better. so the question is, does europe still have the -- >>
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> take a look at futures. the dow looks like it would open off about 103 points. fass dak would be off about 32 points and the s&p 500 off...
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as we know, events in italy and spain which are giants in the european economy can affect the risk appetite globally and that is very tenuous at high levels. >> steve sedgwick, nice to see you, thank you. >>> less than a week into his tenure at the vatican, pope francis has defined himself as a pontiff to the people and something of a challenge to his security detail. the new pope broke protocol and made an impromptus appearance at the side gate of the vatican where he shook hands and kissed babies. pope francis then gave his first prayer to the virgin mary which focused on mercy and forgiveness and drew cheers by closing his remarks with the italian phrase for "have a good lunch." let us know why you're awake. shoot us an a e-mail or tweet me @thomasaroberts. we'll read the best responses later in the show. >> still ahead, brackets are set, march madness here. i want to break down the teams to watch and surprising names that didn't make the big dance. >>> controversy surrounding the series "the bible." the actor chosen to play the character satan is raising eyebrows. that and a check of we
as we know, events in italy and spain which are giants in the european economy can affect the risk appetite globally and that is very tenuous at high levels. >> steve sedgwick, nice to see you, thank you. >>> less than a week into his tenure at the vatican, pope francis has defined himself as a pontiff to the people and something of a challenge to his security detail. the new pope broke protocol and made an impromptus appearance at the side gate of the vatican where he shook...
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we're in a situation where the economy is improving. earnings are going to do better than people pecked. remember shs we had a lot of negativity about what was going to happen this year. we're in a situation where if the economy doesn't do better than we get more qe. if it does improve, then the economy sim proves. earnings are better. everything goes up no matter what. >> bob, goldman is not the only one who has done it. other analyst, independents and others have done the same thing. >> key thing is gdp numbers were raised. retail sales numbers were better than expected. i think john's right. they'll do that with s&p numbers, although i haven't seen a lot. the only other one is isi. they had 1668 and now at 1690. they raised it. >> this is very healthy thing. we want the s&p to be going up based on stronger earnings. not just based on financial magic. that's what seems to be happening. great. >> mayor bloomberg is good for a topic here. he's decided he's going to ban cigarette advertising in the city establishments, keep all tobacco p
we're in a situation where the economy is improving. earnings are going to do better than people pecked. remember shs we had a lot of negativity about what was going to happen this year. we're in a situation where if the economy doesn't do better than we get more qe. if it does improve, then the economy sim proves. earnings are better. everything goes up no matter what. >> bob, goldman is not the only one who has done it. other analyst, independents and others have done the same thing....
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eight times the side of the economy. if you look at the size of the bailout needed it is unprecedented. eig italy and spain don't even come close to the bank bailout. we used to think spain might need a bailout of 10% of gdp for its banks. can you imagine, that's huge. in cyprus is we're talking 60% of gdp so it's outsized. >> michelle caruso-cabrera, thanks so much for that. 60% of it relies on its banking system and 30% of its deposits are from non-uri on countries. >> it is roughly two-thirds of exxon mobil's capital spending. >> there are people who have missed this move, people who missed it for 6,000 point, 3,000 points and they will point out that is irrelevant, the size of the gdp and this is the next big thing and people will tell you you ought to take your money out of j.p. morgan chase. these are people who have a terrific motive. they have got to catch up with the averages. at the same time, stocks are pretty extended so it's a great excuse. i was going use the fed as a great excuse, but now we have cyprus. i
eight times the side of the economy. if you look at the size of the bailout needed it is unprecedented. eig italy and spain don't even come close to the bank bailout. we used to think spain might need a bailout of 10% of gdp for its banks. can you imagine, that's huge. in cyprus is we're talking 60% of gdp so it's outsized. >> michelle caruso-cabrera, thanks so much for that. 60% of it relies on its banking system and 30% of its deposits are from non-uri on countries. >> it is...
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of the economy. if you allow the banks to fail, much like letting citibank or jpmorgan here in the united states, that would have significant repercussion the in the economy. connell: where do you stand on the idea of the con cement spreading? could it happen in other countries was the question asked, it seemed like, in the markets this morning if it goes through on cypress, on to the next guy and next who have problems? >> that's a legitimate concern that the architect or one of the principle architects here, the imf, the ecb, and the european union and germany with a strong hand there. if they force this upon one country, who is to say they couldn't force it upon a larger, more important country? if europe were able to execute a plan like that, who is to say that the united states wouldn't look and say, well, they did it in europe, why couldn't we look here? connell: rule of law question; right? >> exactly. dagen: what's the solution? somewhere between forcing the haircut and letting banks fail? wh
of the economy. if you allow the banks to fail, much like letting citibank or jpmorgan here in the united states, that would have significant repercussion the in the economy. connell: where do you stand on the idea of the con cement spreading? could it happen in other countries was the question asked, it seemed like, in the markets this morning if it goes through on cypress, on to the next guy and next who have problems? >> that's a legitimate concern that the architect or one of the...
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its economy and banking sector are struggling. three eurozone nations have already received bailouts from the eu, ireland, portugal and greece. spain is colored differently because it's getting help with its banking sector. the fourth bailout country would be right here, that would be cyprus. now let's talk about what the issue is in cyprus. a proposed deal over the weekend would have taken 9.9% of all deposits for bank accounts that have more than 100,000 euros in ha their accounts. 6.75% with all accounts for less than 100,000 euros. the euro group president explains why. >> translator: the reason why this package including this levy has been chosen has to do with the specific characteristics of the problems and the banking sector in cyprus, which is as you know more than five times the size of gdp if you would include the greek branches more than seven times. >> so the banking sector is much big than the entire economy. in sx shank fexchange, cyprus w the bailout that it needs. that caused the residents to rush to the atm this
its economy and banking sector are struggling. three eurozone nations have already received bailouts from the eu, ireland, portugal and greece. spain is colored differently because it's getting help with its banking sector. the fourth bailout country would be right here, that would be cyprus. now let's talk about what the issue is in cyprus. a proposed deal over the weekend would have taken 9.9% of all deposits for bank accounts that have more than 100,000 euros in ha their accounts. 6.75% with...
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they both take money out of the economy. they both slow the economy. and, yes, they create this idea of austerity. but, look, it's a balancing problem. you need on the one hand to deal with as you well know budget deficits and debt. and on the other hand you need to keep growth going. here's an interesting thing i saw over the weekend just briefly. the recession in greece which is actually a depression, if you line it up against the u.s. great depression in 1929, it looks a lot a like in terms of how much unemployment there is, how much the economy has contracted. greece is having our great depression of the late 1920s. >> wow. >> all right. moving on to washington now. >> a lot nicer setting. >> president obama's renewed push for a grand bargain may be showing some early signs of paying off, at least with one top republican. senator bob corker of tennessee says he could envision raising tax revenue if democrats embrace big changes to medicare and social security. corker's position on sunday puts him at odds with other members of his party, including h
they both take money out of the economy. they both slow the economy. and, yes, they create this idea of austerity. but, look, it's a balancing problem. you need on the one hand to deal with as you well know budget deficits and debt. and on the other hand you need to keep growth going. here's an interesting thing i saw over the weekend just briefly. the recession in greece which is actually a depression, if you line it up against the u.s. great depression in 1929, it looks a lot a like in terms...
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♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. bill: so onward we go, huh? two more weeks of lent. martha: two more weeks of lent as we were discussing. have a great day everybody. "happening now" starts right now. jenna: right now we have brand new stories and breaking news. >> the fbi on the scene of the university of central florida after a suspicious death there. plus explosives were found inside a dorm. we're live with breaking details. >>> the gop's bold new plan for the future. what the party needs to connect with voters it finds. >>> china out with a new warning for the united states about plans to beef up our missile defense system. how this could impact growing tensions with north korea. it's all "happening now.". >>> fox news alert on a campus in chaos. police are investigating a apparent suicide find weapons and explosive devices at the university of central florida. that is how we begin this monday. i'm jon scott. jenna: i'm jenna lee. ucf is canceling classes just hours after evacuat
♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. bill: so onward we go, huh? two more weeks of lent. martha: two more weeks of lent as we were discussing. have a great day everybody. "happening now" starts right now. jenna: right now we have brand new stories and breaking news. >> the fbi on the scene of the university of central florida after a suspicious death there. plus explosives were found inside a...